Learned Several lessons today on a stock that should have been hard to lose on. AMDA went up 181.98% today but I still screwed it up.
My first attempt I tried to put the limit order just above the last resistance at 2.02. Though it was at set at 2.05 the stock only went as low as 2.08 before spiking. I panicked because I knew from yesterday with BLNK that once it broke the 2.54 resistance it could really go so I got in by chasing the stock. As soon as it started dropping I realized there is no resistance so I sold all my shares for a loss.
The second buy of the stock it was doing the ABCD pattern and this time I got in at 2.76 and resistance was 2.71. Since it had gone up so many times already this time it got weak and fell. I immediately sold once it fell through the resistance and got out at 2.66 before it went to 2.44 a minute or so later.
Dunno about your account size, but watch out for PTD rule. Never revenge trade either. Lick your wounds, study, and get back in the game tomorrow. =)
It look like you are using Etrade, I use them to I was recommend creating an account with TOS I don't use them for trading just for the on demand and the charting. True what daber360 stated if you have a small account watch you day trades in Etrade it under the balance section.
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